Devon Energy Corporation (NYSE:DVN) Declares $0.24 Quarterly Dividend

Key Points

• Devon Energy Corporation declared a quarterly dividend of $0.24 per share, set to be paid on September 30th to stockholders of record on September 15th, representing an annualized dividend yield of 3.0%.
• The company reported earnings of $0.84 per share for the last quarter, exceeding estimates, with revenue of $4.28 billion, a 9.4% increase year-over-year.
• Devon Energy has a payout ratio of 22.3%, indicating its dividend is well-covered by earnings, and analysts expect future earnings to sustain this dividend commitment.

Devon Energy Corporation (NYSE:DVN - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Monday, September 15th will be paid a dividend of 0.24 per share by the energy company on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th.

Devon Energy has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Devon Energy to earn $5.00 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 19.2%.

Devon Energy Stock Performance

Shares of NYSE DVN traded up $0.14 during trading hours on Wednesday, reaching $32.45. The stock had a trading volume of 15,769,833 shares, compared to its average volume of 9,106,828. The firm has a market cap of $20.83 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 1.81 and a beta of 1.07. The firm has a 50-day moving average of $32.96 and a 200-day moving average of $33.31. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $1.41 EPS. The company's revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that Devon Energy will post 4.85 earnings per share for the current year.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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